Norwegian salmon spot price up for fifth consecutive week

Norwegian salmon spot prices are set to rise again next week, making the fifth consecutive week of price increases.

« This week, due to relatively low volumes, we’ve seen a positive impact on prices back to us, » an exporter told iLaks. « It has not been a walk in the park, but slowly and surely the fish has gone out at higher prices for next week. »

« Next week we expect some more fish in the system, but due to the developments we have seen this week, the purchase price has adjusted a little bit up. The supply of large fish seems further reduced, so it has also continued to go up. »

He cited the following salmon prices, to the farmer in southern Norway:

There has been a price increase of a few NOK, while the euro went from 9.60 to 9.50 last week.

« As one of the few animal products in Norway, salmon is in our evening prayers — every night, » concluded the exporter.

A number of market participants confirmed this price level, though noted a little more market hesitance.

« That’s the price we have heard, » said one salmon trader. « We are very tentative. We have customers who have problems making deals at certain prices — and then we have three more weeks of increases. It’s unhealthy. »

« The prices seem too high for me. I have not bought anything, but see no major movements, » said another salmon exporter.

« It’s early in the day. We are on a knife edge on prices. I hear many who are stepping back from buying, they’ll lower their quantities, because this is not sustainable, » he said, adding that fish under 4kg are more feasible now.